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The Ontario Bioscience Innovation Organization (OBIO®) is proud to announce significant milestones for its Women in Health Initiative (WiHI). Launched in July 2022 with support from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the OBIO® WiHI aims to bridge the gender disparity in the health science industry, particularly in senior management roles and leadership positions. The program offers comprehensive training, support and networking opportunities, empowering women with the skills and knowledge required to excel in leadership positions.
“Investing in the Women in Health Initiative (WiHI) is a crucial step in providing necessary supports and training so women can enter and flourish in the health and life sciences sector,” said the Honourable Filomena Tassi, Minister responsible for FedDev Ontario. “Southern Ontario is home to an abundance of healthcare-focused businesses—many more of which are women-led thanks to the committed efforts of WiHI. Our government is pleased to support the WiHI program as it works to increase the representation of women in this exciting field.”
In its first year, WiHI has made remarkable strides, supporting more than 325 women in the industry through experiential learning and financial support. This year, 11 women-led companies have been selected for the WiHI Seed Program, a key component of the initiative, which addresses the significant barriers that women-led companies face in accessing financing and support, especially in the health science sector where venture capital investment is at a historic low. The participating companies will benefit from this comprehensive six-month program and have access to expert networks, essential industry resources and skills, non-dilutive funding of up to $20,000 and potential equity investment.
“By providing a combination of early-stage capital and advisory support to women-led companies, the program addresses critical barriers faced by women entrepreneurs in the life science and health technology sectors,” said Dr. Maura Campbell, President & CEO of OBIO®. “The WiHI Seed Program is a critical step towards creating a more equitable, diverse and inclusive health science industry, empowering women entrepreneurs to thrive and be successful leaders.”
The selected companies for the WiHI Seed Program 2023 are A.I. VALI, Atorvia, Cove Neurosciences, HDAX Therapeutics, ImaginAble Solutions, mDETECT, MoxyPatch, Noa Therapeutics, Paradox Immunotherapeutics, Tenomix, and Vessl Prosthetics. These companies will receive comprehensive support, including non-dilutive funding, tailored advisory and coaching assistance, and opportunities to pitch for equity seed investment.
